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Azure Minerals delivers some of Andover’s highest-grade nickel-copper sulphide to date

Last updated: 15:50 13 Sep 2021 AEST, First published: 12:36 13 Sep 2021 AEST

Azure Minerals Ltd - Azure Minerals delivers some of Andover’s highest-grade nickel-copper sulphide to date

Azure Minerals Ltd (ASX:AZS) has delivered some of the highest-grade results received to date from drilling at VC-07 East nickel-copper deposit of the Andover Project in Western Australia.

Promisingly, ongoing drilling continues to intersect shallow nickel-copper sulphide mineralisation, with recent assay results confirming continuity of thickness and grade of mineralisation.

Results are in line with, and in some cases exceeding, the company’s expectations with assays including:

  • 4.1 metres at 3.34% nickel, 0.87% copper and 0.14% cobalt from 238.7 metres downhole within 8.4 metres at 2.58% nickel, 0.71% copper and 0.11% cobalt from 234.4 metres;
  • 4.7 metres at 2.93% nickel, 0.40% copper and 0.12% cobalt from 390.7 metres downhole; and
  • 4.5 metres at 2.72% nickel, 0.59% copper and 0.12% cobalt from 402.9 metres downhole within 22.6 metres at 1.71% nickel, 0.83% copper and 0.08% cobalt from 389.1 metres.

Three rigs are drilling around the clock at VC-07 East, with a primary focus on completing infill and extensional resource definition drilling to support a maiden mineral resource estimate, which is expected to be completed in 2022.

Shares have been as much as 14.1% higher intra-day to 40.5 cents.

“Substantial mineralised intersections”

Azure managing director Tony Rovira said: “The Andover VC-07 East nickel-copper sulphide deposit continues to grow on multiple fronts.

“The ongoing resource definition program continues to deliver substantial mineralised intersections, including these latest results which are some of the highest-grade drill hits received to date.

“Importantly, the ongoing drill program continues to expand the deposit both along strike and closer to surface.

“VC-07 East is shaping up to be a significant nickel-copper sulphide deposit with consistent broad widths of mineralisation, including internal massive sulphide zones that host high grades of nickel and copper.

“We’re moving quickly to determine the size and economic value of the deposit by progressing both the maiden mineral resource and the development studies program towards publication next year.

“With the nickel price on a strong upwards trend, recently breaking through US$20,000/tonne, and the copper price near all-time highs, Andover’s timing is very opportune.”

Andover VC-07 showing drill hole locations and long section line A-AA.

Drilling results

Azure has completed 95 diamond drill holes for 42,830 metres at Andover, with 87 holes at VC-07 (76 at VC-07 East and 11 at VC-07 West) and eight holes at VC-23 prospect.

Assay results have been received up to and including hole ANDD0065 with results for another 30 holes awaited.

Other strong intersections include:

  • 5.5 metres at 2.12% nickel, 0.61% copper and 0.09% cobalt from 562.3 metres downhole within 10.5 metres at 1.52% nickel, 0.58% copper and 0.07% cobalt from 557.3 metres;
  • 4.8 metres at 2.18% nickel, 1.06% copper and 0.08% cobalt from 397.2 metres downhole within 18.2 metres at 1.14% nickel, 0.62% copper and 0.05% cobalt from 397.2 metres;
  • 15.7 metres at 1.07% nickel, 0.47% copper and 0.05% cobalt from 440.6 metres downhole; and
  • 8.7 metres at 1.57% nickel, 0.47% copper and 0.07% cobalt from 442.6 metres downhole.

Forward plan

The mineral resource drill program on VC-07 East deposit will continue for as long as drilling continues to intersect substantial mineralisation.

When drilling concludes at VC-07 East, Azure will re-focus the campaign to expanding the VC-07 West mineralised zone to resource status and testing regional targets.

Downhole electromagnetic (DHTEM) surveying along the VC-07 mineralised corridor continues to provide targeting for additional mineralised extensions, assisting in future drill planning.

Surface FLTEM surveys have restarted with the objective of defining additional EM conductors and drill targets elsewhere on the Andover property.

The first priority will be to the east of the VC-07 East deposit where mapping and sampling have identified outcropping gossans and sulphide mineralisation at the surface.

A regional exploration program will focus on drilling other EM conductor anomalies identified on the Andover property.

Statutory approvals for drilling at several locations have been received from the relevant State Government departments and the company continues discussions with local traditional owners to ensure heritage surveys are completed as soon as possible.

Azure Minerals observes substantial spodumene-rich pegmatites at Target Area 3

Azure Minerals Ltd (ASX:AZS, OTC:AZRMF) MD Tony Rovira tells Proactive drilling has commenced within Target Area 3 at the company’s Andover Project with the first three drill holes intersecting significant widths of spodumene-bearing pegmatites. He adds that assays from drilling within target...

on 10/10/23